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EU LNG Imports Holding Steady as Market Watches for First Cold

LNG

LNG imports into NW Europe are steady with recent warm weather easing gas demand in Europe. Net imports into NW Europe are towards the top of the five year range at around 210mcm/d while total imports into Europe averaged 365mcm/d over the week to Nov 1.

  • NW Europe is currently expecting 31 cargoes into NW Europe in the coming couple of weeks
  • More than 30 tankers are sea around Europe waiting for regas terminal availability, cold weather and higher prices according to Vortexa data. High freight rates may limit diversion of cargoes to Asian markets.
  • The front month JKM-TTF spread is currently back around -6.5$/mmbtu having closed to a slight premium of JKM over TTF briefly last week.
    • TTF DEC 22 down -2.7% at 122.06€/MWh
    • NBP DEC 22 down -2.7% at 303p/th
    • JKM Dec 22 down -1.5% at 28.65$/mmbtu
    • JKM-TTF Dec 22 down -0.1$/mmbtu at -6.27$/mmbtu
    • US Natgas DEC 22 up 4% at 6.21$/mmbtu
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LNG imports into NW Europe are steady with recent warm weather easing gas demand in Europe. Net imports into NW Europe are towards the top of the five year range at around 210mcm/d while total imports into Europe averaged 365mcm/d over the week to Nov 1.

  • NW Europe is currently expecting 31 cargoes into NW Europe in the coming couple of weeks
  • More than 30 tankers are sea around Europe waiting for regas terminal availability, cold weather and higher prices according to Vortexa data. High freight rates may limit diversion of cargoes to Asian markets.
  • The front month JKM-TTF spread is currently back around -6.5$/mmbtu having closed to a slight premium of JKM over TTF briefly last week.
    • TTF DEC 22 down -2.7% at 122.06€/MWh
    • NBP DEC 22 down -2.7% at 303p/th
    • JKM Dec 22 down -1.5% at 28.65$/mmbtu
    • JKM-TTF Dec 22 down -0.1$/mmbtu at -6.27$/mmbtu
    • US Natgas DEC 22 up 4% at 6.21$/mmbtu